One of the highest costs to employers is employee turnover. Some industries have higher turnover rates than other simply due to the line of work in which they are in. Some jobs require field employees that have to work in inclement weather conditions. Those positions have very high turn over. Companies such as these involve service companies and or contractors.

Turn over costs an employers approximately $15,000 per lost employee each year. This includes: Training time, administrative hours to process, terminate old employee, add benefits and the list goes on. Time is money and employers that are smart will be adding incentives to retain their top talent.

So what do employees want? A common list begins with the following.

1. More money

This is the most common mistake an employer makes. Just think of yourself for one moment as the employee performing the duty for you. Put yourself in their shoes and begin to think what is important to you. Remember that we are all human and we are motivated by other things besides money. This list looks like this.

1. Time off to be with family

2. Respect

3. Growth opportunities

4. Promotion

5. A simple "thank you"

6. Recognition in the work place

7. A "thanks a million" letter from the boss

8. Communication of where the company is heading

9. Feeling of being part of the group

Those things go far and beyond giving an employee a high salary. Most employees decide to leave a job when they feel that the security is not there anymore. They begin to lose faith in their employer. Employees (humans) would like to be made aware of what is in store for them in the future. Can they expect this employer to be their card towards retirement. Do they get that dreaded feeling on the Sunday night.

If you are an employer, think about the little things that go a long way. When was the last time you walked around the office with a smile on your face thanking your employees and feeling interested in their accomplishments?

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